Next month President Obama will travel to Brazil, and Treasury Secretary has arrived early to help lay the foundation for a stronger relationship between the two countries.
Geithner recognized that both countries economic ties are expanding. Two-way trade between countries has almost doubled since the turn of the century. Investment and capital flow in both directions. Today Brazilian entrepreneurs are investing in the United States, opening up plants and creating jobs, just as American companies are doing in Brazil.
He noted that the U.S. successfully pushed for Brazil to have a greater role at the multilateral table, moving aggressively to enhance the role of Brazil in the governance of the IMF and World Bank. Now, Brazil is one of the largest shareholders of the IMF.
Geither noted, while in Brazil, that the two economies are in a much stronger position than they were two years ago. Therefore now more important than ever that they work together as partners so that Brazilian and American people, businesses and economies both drive and benefit from global economic growth.